Romania Finance Minister: Economic growth in Q1 under 1%

The economic growth in Romania will be under 1% in the first quarter of 2009, Finance Minister Gheorghe Pogea declared on Friday, during the Parliamentarian hearings on the state budget, NewsIn informs. Still, the official expects the economy to recover during the second quarter.

Pogea explained that the most important commercial partners Romania has – Germany, France and Italy – will reduce their imports from Romania, because of the economic crisis, a fact that will affect Romania’s economic growth.

The minister previously declared in a TV talk show in January that the growth will be under 1%, but that the figures at the end of the year may increase to 2.5%.

During the second half of the year, the Government prepares to help the economy, injecting cash. The first step will be to pay remaining debts worth over one billion Euros.

The Government estimates a 2.5% economic growth and 2% budgetary deficit.